Everett Harris & Co. CA Invests $222,000 in LPL Financial Holdings Inc. $LPLA

Everett Harris & Co. CA bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 591 shares of the financial services provider’s stock, valued at approximately $222,000.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in LPL Financial by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider’s stock worth $2,411,956,000 after acquiring an additional 154,200 shares in the last quarter. Boston Partners grew its holdings in shares of LPL Financial by 4.6% in the 2nd quarter. Boston Partners now owns 3,674,564 shares of the financial services provider’s stock worth $1,377,753,000 after purchasing an additional 160,281 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of LPL Financial by 0.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider’s stock worth $877,264,000 after purchasing an additional 20,881 shares during the last quarter. WCM Investment Management LLC increased its position in shares of LPL Financial by 5.8% during the 2nd quarter. WCM Investment Management LLC now owns 1,730,777 shares of the financial services provider’s stock worth $631,664,000 after purchasing an additional 95,423 shares in the last quarter. Finally, Dodge & Cox lifted its holdings in LPL Financial by 224.1% during the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider’s stock valued at $498,385,000 after purchasing an additional 1,053,351 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LPLA. Raymond James Financial raised shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research report on Friday, October 31st. JPMorgan Chase & Co. dropped their price target on LPL Financial from $463.00 to $438.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Citigroup reissued an “outperform” rating on shares of LPL Financial in a research note on Friday, October 31st. Finally, BMO Capital Markets started coverage on LPL Financial in a research note on Friday, October 3rd. They issued an “outperform” rating and a $365.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $429.00.

Insiders Place Their Bets

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $376.43, for a total value of $564,645.00. Following the completion of the transaction, the director directly owned 15,370 shares in the company, valued at approximately $5,785,729.10. This trade represents a 8.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,830 shares of company stock valued at $1,336,675 in the last ninety days. Company insiders own 1.30% of the company’s stock.

LPL Financial Stock Down 0.3%

NASDAQ:LPLA opened at $376.65 on Thursday. The stock’s fifty day moving average price is $341.72 and its two-hundred day moving average price is $360.12. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market cap of $30.15 billion, a price-to-earnings ratio of 34.68, a P/E/G ratio of 0.83 and a beta of 0.63. LPL Financial Holdings Inc. has a 52-week low of $262.83 and a 52-week high of $403.58.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. The company had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The company’s revenue was up 46.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.16 EPS. On average, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is presently 11.05%.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.